Haha - I certainly could be wrong. As I have said in other posts, it is important to understand your edge before designing a system to exploit it. But lets say there is no edge, or that my system fails to exploit it with statistical reliability. Fine - but again, with drawdown expectations that are small enough you can realize that without an impact on your account that you aren't prepared to see (since such levels are ultimately determined by you).
As you said, it really comes down to your school of thought. And again, at this point, the ability to reliably exploit my edge doesn't agitate me. If it fails, it fails; if it never worked, it never worked - but at least I can pull the plug early, and have at least a reasonable basis for doing so. Really, it is just another part of the trading plan that many fail to plan for. And if it were to happen, at this point, I would still be significantly in the green, so it doesn't keep me up at night. Perhaps I have been 'lucky' over the thousands of trades that I have made, but luckily you don't have to be lucky for that long in order to not have to worry as much about luck anymore.
As you said, it really comes down to your school of thought. And again, at this point, the ability to reliably exploit my edge doesn't agitate me. If it fails, it fails; if it never worked, it never worked - but at least I can pull the plug early, and have at least a reasonable basis for doing so. Really, it is just another part of the trading plan that many fail to plan for. And if it were to happen, at this point, I would still be significantly in the green, so it doesn't keep me up at night. Perhaps I have been 'lucky' over the thousands of trades that I have made, but luckily you don't have to be lucky for that long in order to not have to worry as much about luck anymore.